7 June 2020
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Reuters/Tim Wimborne

5 things you need to know today

Switzer Daily
13 May 2020

1. Commonwealth Bank will be the fourth and final of the 'Big Four' banks to release their eagerly anticipated third-quarter updates. CBA is expected to release data later today.

2. America's top infectious disease expert, Dr Anthony Fauci, said if certain states reopen for business too early as President Trump is suggesting it could result in even greater "suffering and death".

3. Tensions between China and Australia rise as China accused Australia of pushing for an inquiry into the origins of COVID-19 for "political reasons" and "mutual ­respect and equality" must be upheld in bilateral relations.

4. OPEC members, like Saudi Arabia, are voluntarily cutting production showing that all oil producing companies are doing what they can to stabilise the market according to CNBC.

5. The market closed in the negatives yesterday, with the Dow dropping 1.89% to 23,764.78. The S&P 500 closed down 2.05% to 2,870.12 and Nasdaq dropped 2.06% to 9,002.55. The ASX is set to open on a mild loss.

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